Net profits came to 153m yuan ($24.6m) while full-year revenues fell by 12% to 11.3bn yuan, the company says in a preliminary results announcement. The numbers are in line with earlier forecast.
Chairman Wu Gang says the sector was “still in a period of adjustment” last year, following a change to wind industry policies in 2011 that slowed project approvals.
Slower approvals came after China’s wind equipment sector had built up large inventories, expecting continued rapid growth after several years of expansion.
Although
